SNB: Defending the Floor

While it may not provide long term assistance to the SNB, the EURCHF price floor appears to be getting some help from safe haven buyers moving away from the franc and moving towards the pound. This has been seen in the EURGBP trading to a near four year low of 0.7960. Also the GBPUSD continually has been showing signs of strength even as the dollar has been gaining overall in May, and UK fundamentals have been pretty lackluster.